The total value of worldwide IT services contracts signed in the final three months of 2010 was 66% higher than the previous three months, according to research from Ovum.

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At $49bn, the total value of contracts was the highest quarterly amount for over four years and the highest fourth quarter total value since 2003.

The last-minute explosion in spending was the result of a number of mega-deals. More mega-deals were signed in the last three months of the year than in the previous nine months.

"2010 went out with a bang thanks to a number of mega-deals announced during the fourth quarter," said Ovum analyst Ed Thomas. "It was a remarkable turnaround for the sector which, after a sluggish first three quarters, was forecast to hit its lowest annual TCV level for five years. However, rather than enduring another stagnant quarter, a string of large deals meant that the IT services market exploded into life."

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